Brookfield Infrastructure Partners LP (NYSE:BIP) Stock Has Average Price Target of $44.78 According to Analysts

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $44.78.

Several research firms recently issued reports on BIP. BMO Capital Markets upped their target price on Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce set a $44.00 target price on Brookfield Infrastructure Partners and gave the stock an “outperformer” rating in a research note on Thursday. Wall Street Zen cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings raised Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley dropped their price target on Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $36.79 on Friday. The company has a 50 day moving average price of $36.88 and a 200 day moving average price of $37.40. The firm has a market capitalization of $16.84 billion, a P/E ratio of 59.34 and a beta of 1.06. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. Brookfield Infrastructure Partners has a 52 week low of $33.21 and a 52 week high of $44.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.73. Brookfield Infrastructure Partners had a net margin of 3.51% and a return on equity of 2.63%. The company had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. Brookfield Infrastructure Partners’s revenue was up 19.4% compared to the same quarter last year. Sell-side analysts expect that Brookfield Infrastructure Partners will post 3.63 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a $0.4550 dividend. The ex-dividend date was Monday, August 31st. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 293.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Sage Investment Counsel LLC purchased a new stake in Brookfield Infrastructure Partners in the third quarter valued at $1,333,000. Lakewood Asset Management LLC acquired a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth about $511,000. Canton Hathaway LLC raised its stake in shares of Brookfield Infrastructure Partners by 59.0% during the 3rd quarter. Canton Hathaway LLC now owns 26,000 shares of the utilities provider’s stock valued at $924,000 after buying an additional 9,650 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $2,460,000. Finally, Cardinal Point Capital Management ULC purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $1,075,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.